First National Bank of Hutchinson Increases Stake in Eli Lilly and Company (NYSE:LLY)

First National Bank of Hutchinson boosted its holdings in shares of Eli Lilly and Company (NYSE:LLY) by 17.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,019 shares of the company’s stock after acquiring an additional 295 shares during the period. Eli Lilly and Company comprises about 0.9% of First National Bank of Hutchinson’s portfolio, making the stock its 22nd largest position. First National Bank of Hutchinson’s holdings in Eli Lilly and Company were worth $1,559,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Sandy Spring Bank raised its stake in Eli Lilly and Company by 9.7% in the fourth quarter. Sandy Spring Bank now owns 21,004 shares of the company’s stock worth $16,215,000 after buying an additional 1,853 shares in the last quarter. Arvest Investments Inc. raised its position in shares of Eli Lilly and Company by 4.0% in the 4th quarter. Arvest Investments Inc. now owns 905 shares of the company’s stock worth $699,000 after acquiring an additional 35 shares in the last quarter. Royal London Asset Management Ltd. lifted its stake in shares of Eli Lilly and Company by 2.6% during the 4th quarter. Royal London Asset Management Ltd. now owns 741,294 shares of the company’s stock worth $572,279,000 after purchasing an additional 18,925 shares during the last quarter. Trivest Advisors Ltd bought a new stake in Eli Lilly and Company during the fourth quarter valued at about $10,808,000. Finally, First Financial Bankshares Inc raised its holdings in Eli Lilly and Company by 2.0% in the fourth quarter. First Financial Bankshares Inc now owns 1,011 shares of the company’s stock worth $780,000 after purchasing an additional 20 shares in the last quarter. 82.53% of the stock is currently owned by institutional investors.

Eli Lilly and Company Price Performance

Shares of NYSE LLY opened at $837.34 on Thursday. The company has a debt-to-equity ratio of 2.00, a current ratio of 1.15 and a quick ratio of 0.97. The stock has a market capitalization of $793.94 billion, a price-to-earnings ratio of 71.51, a PEG ratio of 1.40 and a beta of 0.34. The firm’s 50 day simple moving average is $834.04 and its 200-day simple moving average is $840.69. Eli Lilly and Company has a 12 month low of $711.40 and a 12 month high of $972.53.

Eli Lilly and Company (NYSE:LLY) last released its quarterly earnings results on Thursday, February 6th. The company reported $5.32 EPS for the quarter, missing the consensus estimate of $5.45 by ($0.13). Eli Lilly and Company had a net margin of 23.51% and a return on equity of 85.24%. Analysts expect that Eli Lilly and Company will post 23.48 EPS for the current year.

Eli Lilly and Company announced that its Board of Directors has approved a stock repurchase program on Monday, December 9th that authorizes the company to repurchase $15.00 billion in shares. This repurchase authorization authorizes the company to buy up to 2% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s board believes its shares are undervalued.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on LLY shares. Citigroup lowered their price target on shares of Eli Lilly and Company from $1,250.00 to $1,190.00 and set a “buy” rating on the stock in a report on Tuesday, January 28th. Morgan Stanley set a $1,146.00 target price on shares of Eli Lilly and Company in a research note on Thursday, March 6th. Truist Financial upped their price target on Eli Lilly and Company from $1,029.00 to $1,038.00 and gave the stock a “buy” rating in a research report on Monday, February 3rd. Berenberg Bank set a $970.00 price objective on Eli Lilly and Company in a research report on Thursday, January 16th. Finally, Leerink Partners set a $950.00 price target on Eli Lilly and Company in a research note on Friday, January 17th. Three analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $1,009.72.

Insider Buying and Selling

In other news, CAO Donald A. Zakrowski sold 1,000 shares of the business’s stock in a transaction that occurred on Thursday, March 13th. The stock was sold at an average price of $818.24, for a total value of $818,240.00. Following the completion of the sale, the chief accounting officer now directly owns 5,840 shares in the company, valued at $4,778,521.60. The trade was a 14.62 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.13% of the stock is currently owned by insiders.

Eli Lilly and Company Profile

Eli Lilly and Company discovers, develops, and markets human pharmaceuticals worldwide. The company offers Basaglar, Humalog, Humalog Mix 75/25, Humalog U-100, Humalog U-200, Humalog Mix 50/50, insulin lispro, insulin lispro protamine, insulin lispro mix 75/25, Humulin, Humulin 70/30, Humulin N, Humulin R, and Humulin U-500 for diabetes; Jardiance, Mounjaro, and Trulicity for type 2 diabetes; and Zepbound for obesity.